What are the 4 types of planning?

Talking About the Types of Planning, we have Operational Planning. Strategic Planning. Tactical Planning. Contingency Planning.

vedantu.com - Types of Plan – Explanation and Types of Policies in Management

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For any organization to function distinctively, there must be a plan which is to be devised before-hand. Planning is very important to a business. The top managers must plan their goals both short and long terms with their competent employees and their team of experts to analyze the pros and cons of the plan, the investment required in the plan, the return expected and so forth. In this discussion, we will know about this managerial function of ‘Planning’ in detail. This is one of the important topics in the study of Business, hence the students must not exclude it.

Types of Planning

In an organization, various, different kinds of planning are included which serves a variety of purposes. As Planning is the most important fundamental, it is not to be compromised with a single plan applied universally in the whole organization. With each department specific need, workforce constituents, the different plans are devised. Predominantly, for the goal of the business, planning is done by the top-level managers, while short-term plans are done by the team leaders too in different departments. Good Companies give priority to the planning process, as adequate management and competent leadership will follow only after effective planning is done. Companies are required to keep a track on the planning process, to be in sync with the predetermined process. To Plan Better Companies, You Need to Take Care of The Following Things Devise a Plan – Important goals needed to achieve, strength of the organization all are required to be forecasted before-hand. Devising a proven plan helps to visualize the goals with much before and thus take action in regard to that. Define Success – Managers need to foresee where their business stands in the near future. They need to clearly define the milestones that they want to take step on and the same is required to be communicated to the employees. Put in Action – After much planning, the final process that will actually will help in achieving the goals is to put the plan in action. With the required workforce, the company should start working in the attempt to achieve their set target.

Talking About the Types of Planning, we have

Operational Planning Strategic Planning Tactical Planning Contingency Planning

Explain the Types of Planning

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In the section discussed above, we have already mentioned the types of Planning. Here, we attempt to discuss in depth about the four types of Planning.

Operational Planning

Answering the question of “How things need to happen? What are the guidelines to accomplish the set mission?” describes an operational plan. This plan simply means the daily activities which are focused in achieving the goal. Operational Plans are generally the single used plans or the on going plan. They can also be planned for one-time events or for a specific need. These plans include specific rules and regulations and procedures to stand by it. They provide an adequate guideline for the step to step processing of the work.

Strategic Planning

The reason for planning is chalked out in the strategic plan. Strategic plans are generally long-term thinking processes executed by the top-level managers. It is a big picture to cast a vision and requires mission processing. It requires a high-level analysis of the entire business. Being the foundational basis of the organization, strategic planning dictates long term goals which normally tenures for two to ten years span.

Tactical Planning

Tactical Plan is the backbone of Strategic Plan. Generally speaking, they are focused, specific and short-term plans. They are the plans that initiate the actual work. Tactical plans form the outline of a strategic plan that eventually structures the organizational plan. Often the tenure of this plan is quite short and mostly lasts to one year. The strategic plans that get chunked into actionable plans are called Tactical Planning.

Contingency Planning

Contingencies might occur in business. To tackle the contingencies, the contingency planning is drafted. Thyer ae also named as ‘Special Planning’ by the business experts. In a situation of change, contingency planning proves to be helpful. Though managers acknowledge the changes before-hand yet contingency plans help to tackle the unseen changes. With the complicated business world, the contingency plan becomes more of a use.

Types of Policies in Management

Different Policies are used in an organization, that is responsible for each purpose. Following are the types of policies that are being widely used in the business world. –

vedantu.com - Types of Plan – Explanation and Types of Policies in Management

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